The Government can match the money you put into super – up to a maximum of $1,000 per year – under it’s Co-contribution scheme. So you can add to your super and then the Government will as well.
You’re eligible for a Co-contribution if:
- You earn less than $61,920 per year (including assessable income, fringe benefits and super contributions)
- You’ve made an extra after-tax contribution in the current financial year (salary sacrifice contributions are made before-tax and don’t count towards the Co-contribution)
- You earn 10% or more of your income from eligible employment, running a business, or both
- You’re a permanent resident aged under 71 at the end of the financial year in which you make a payment
- You lodge a tax return for the 2010/2011 financial year.
How much will I get?
How much you’ll receive depends on your income. Use our calculator or the below table:
| If your after-tax contribution for the 2010/11 financial year is: |
$1,000 |
$800 |
$500 |
$200 |
| And your income is: |
Your Government co-contribution is: |
|
|
|
| $31,920 or less |
$1,000 |
$800 |
$500 |
$200 |
| $33,920 |
$933 |
$800 |
$500 |
$200 |
| $35,920 |
$867 |
$800 |
$500 |
$200 |
| $37,920 |
$800 |
$800 |
$500 |
$200 |
| $39,920 |
$733 |
$733 |
$500 |
$200 |
| $41,920 |
$667 |
$667 |
$500 |
$200 |
| $43,920 |
$600 |
$600 |
$500 |
$200 |
| $45,920 |
$533 |
$533 |
$500 |
$200 |
| $47,920 |
$466 |
$466 |
$466 |
$200 |
| $49,920 |
$400 |
$400 |
$400 |
$200 |
| $51,920 |
$333 |
$333 |
$333 |
$200 |
| $53,920 |
$267 |
$266 |
$266 |
$200 |
| $55,920 |
$200 |
$200 |
$200 |
$200 |
| $57,920 |
$133 |
$133 |
$133 |
$133 |
| $59,920 |
$67 |
$67 |
$67 |
$67 |
| $61,920+ |
$0 |
$0 |
$0 |
$0 |